I feel as if it would be neat to do less of an "overhaul" and more of a R&D with college/marien engineering programs.

Figure a from scratch ski boat is a large undertaking, but perhaps a competition where a boat is improved in some manner, with the financial backing be based on the R&D value - picture taking a 80's/90's hull - and either addressing powertrain, hull running surface, propeller/steering.

This is where you could rotate through year by year and have a competition to fix one single aspect of the vehicle.

Obviously you have to also hope to incorporate features that would sell to other boat markets, particularly wakeboarding, surf, recreation etc.